Acadian Asset Management has started off the New Year by boosting its local leadership team with the addition of a Colonial First State executive manager.
Former CFS executive manager of deposits and investment products Mark Mukundan has joined the $140 billion quantitative firm's Australian office in a newly created role.
He joins as vice president product and wholesale markets, in a move designed to help the firm grow its presence among financial advisers and wholesale investors.
Mukundan's appointment sees the firm's local sales and client team grow to five people, mirroring similar growth in its investment team as investors turn to the systematic investment manager's strategies.
Currently, Acadian manages $9.5 billion in assets on behalf of Australian and New Zealand investors. About $1.5 billion of this is managed on behalf of non-institutional investors.
Head of Acadian Asset Management Asia Pacific and chief executive of the firm's local office Andrew Hair welcomed Mukundan into the fold.
"Mark will help us further grow our business' footprint in the wholesale and intermediated channels in Australia as we bring distribution in this space in-house for the first time," Hair said.
"Acadian has been growing consistently over the past few years and is receiving increasing investor interest. With our focus on strong returns for risk, down-side protection and ESG, our strategies are well placed for advisers and other intermediaries and their clients."